Pi Network has introduced a wave of updates inspired by Protocol 23 based on Stellar. These enhancements aim to improve blockchain functionality and ensure the long-term sustainability of the network.
Protocol v23 Update
The transition from the older v19 version to Protocol v23 introduces modular smart contract layers and improved consensus mechanisms for developers, enabling the creation of more complex decentralized applications (dApps).
Linux Support
The newly released Linux node software extends Pi Network’s decentralized infrastructure beyond Windows and macOS systems, allowing the network to expand to a broader validator base.
KYC Integration
The update embeds the Know Your Customer (KYC) process directly into the protocol, enabling third-party authorities to assist with the verification process. This aims to ease the transition of Pi users to the Mainnet.
While technical advancements are prevalent, the upgrades don't appear to have had an immediate impact on the PI token's market capitalization, which is trading 88% lower than its all-time high.
